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LG Chem ‘buys stake in nickel sulfate supplier’

Thu, 11/16/2017 - 10:56 -- Xuan Zhong
LG Chem ‘buys stake in nickel sulfate supplier’

LG Chem has reportedly invested KRW1 billion ($897,000) to acquire a 10% stake in South Korean nickel sulfate supplier company Kemco, with the aim of boosting its lithium-ion battery business for the electric vehicles market.

The South Korean tech firm will enter the batteries raw material business in the new year, the Maeil Business Newspaperquoted an unnamed LG Chem source as saying.

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